|
The key equity benchmarks continued to trade with sharp losses in mid-morning trade amid rupee weakness, sustained foreign fund outflows, elevated crude oil prices, and renewed concerns over the fragile U.S.-Iran ceasefire. Nifty traded below the 23,600 level. Realty shares declined for the second consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, tanked 832.87 points or 1.10% to 75,191.95. The Nifty 50 index fell 226.75 points or 0.95% to 23,589.10. In the broader market, the BSE 150 MidCap Index slipped 1.27% and the BSE 250 SmallCap Index declined 1.52%. The market breadth was weak. On the BSE, 1,105 shares rose and 2,780 shares fell. A total of 190 shares were unchanged. Economy: A public sector bank research report for May 2026 projected India's GDP growth at 6.6% for FY27, compared with an estimated 7.5% growth in FY26, while highlighting the economy's resilience amid global uncertainties and regional conflicts. The report said credit growth is expected to remain strong in the first half of FY27 and domestic consumption will continue supporting economic activity. It noted that robust rabi output has improved near-term food supply prospects but warned that volatile crude oil prices, commodity fluctuations, and possible El Ni'o conditions could increase inflation risks. The report also called for measures to address balance of payments pressures arising from rupee depreciation and rising crude prices, including calibrated use of Indian diaspora bonds. It further stressed the need for India to accelerate AI-driven productivity, competitiveness, and integration into global value chains through supportive policy measures. Buzzing Index: The Nifty Realty index fell 1.55% to 786.15. The index fell 5.43% in the three consecutive trading sessions. Aditya Birla Real Estate (down 5.52%), Brigade Enterprises (down 3.81%), Anant Raj (down 2.76%), Lodha Developers (down 2.59%), Phoenix Mills (down 2.25%), Sobha (down 2%), DLF (down 2%), Prestige Estates Projects (down 1.96%), and Godrej Properties (down 1.96%) fell. Stocks in Spotlight: HFCL advanced 2.56% after the company announced that it has secured export orders worth around $19.32 million (approximately Rs 183.95 crore) for the supply of optical fiber cables from reputed international customers. GE Power India hit an upper limit of 5% after the company's consolidated profit after tax stood at Rs 113.21 crore in Q4 FY26, down 31.07% from Rs 164.24 crore in Q4 FY25 but rose 56.54% from Rs 72.32 crore in Q3 FY26. Revenue from operations increased 18.78% YoY to Rs 316.40 crore in Q4 FY26 from Rs 266.38 crore in the corresponding quarter last year. However, revenue declined 17.95% sequentially from Rs 385.62 crore in Q3 FY26. Indian Hotels Company (IHCL) declined 2%. The company reported a 14.84% increase in consolidated net profit to Rs 599.86 crore in Q4 FY26, compared with Rs 522.30 crore in Q4 FY25. Revenue from operations rose 14.02% YoY to Rs 2,765.29 crore in the quarter ended 31 March 2026. Global Markets: Asia-Pacific markets traded mixed on Tuesday as investors shrugged off fresh doubts over the fragile U.S.-Iran ceasefire after President Donald Trump warned the truce was on 'massive life support.' Trump on Monday cast doubt on the survival of the U.S. -Iran ceasefire, saying the fragile truce was effectively 'on life support' after Tehran delivered what he described as an unacceptable response to Washington's proposal for ending the conflict. The S&P 500 advanced 0.19% to end at 7,412.84, bolstered by key tech stocks even as oil prices rose after Trump rejected Iran's latest proposal to end the war. while the Nasdaq Composite climbed 0.10% to 26,274.13. The Dow Jones Industrial Average rose 0.19% to settle at 49,704.47. Powered by Capital Market - Live News
|